I've sold 30% of my $NEAR at $2.20, but that doesn't change my thesis surrounding the protocol.
I do believe that this can easily go to $10-20 in a strong cycle. Perhaps even higher, as during this stage it's hard to imagine whether the markets are likely to go that high.
Other than that, it doesn't mean that I need to hold the position until infinity.
My goal is to trade the portfolio well and to cover my risk when assets go up. Technically said: that means that I need to reduce my portfolio variance in order to be able to have a consistent upwards grind of the portfolio.
That also means that I'll be looking to be selling all my #crypto at some point in time and essentially trade other assets if I don't see any possible trade within the crypto markets or whether I see an opportunity or not.
What's the gameplan for $NEAR ?
- I've sold 30% at $2.20 and I've not reallocated everything into other assets, meaning that I have free cash to use back into the position.
Buying back:
- The lower the better, which means, if this comes back to $1.60-1.80, I'm very happily buying back in. Technically speaking, anything <$1.80 is where I find myself potentially interested to be allocating back into it if the markets are favouring that to me. If not, then that's fine too.
Selling more:
- Essentially I think that we've seen the high for now, especially since the sentiment was reaching for euphoria over the past few days. I assume we'll see some more consolidations taking place and then we might be ready for another run in 2-4 weeks.
If that goes to $2.50-2.70, I'll be trimming off again and basically will do the same at $3.00-3.25. Probably will be selling more than half of the position and adding more towards cash, but that depends on the market structure at that point in time.
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